Smart Exit Planning Strategies for Niche Markets
Selling a Garden Ornaments Business
The sale of your garden ornaments business is the culmination of this stage of your entrepreneurial journey. Although most business owners expect a storybook ending, it will take the careful application of sound selling principles to bring your sale to a successful conclusion.
Dire economic forecasts have forced many garden ornaments business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
Most garden ornaments businesses are good business opportunities, a fact that is not going unnoticed by today's discerning buyers.
Preparing Family Members
You're ready to sell your garden ornaments business, but is your family prepared for the transition? Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. The sale of the business will likely result in new family dynamics. Subsequently, selling a garden ornaments business has to include ample communication and shared decision-making.
Broker vs. No Broker
Anyone who has ever sold a garden ornaments business has eventually needed to decide whether to use a business broker or go it alone. Although brokerage fees can be substantial, the right broker can reduce the amount of time your garden ornaments business sits on the market. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
Business Valuation
Multiple valuation methods exist for a garden ornaments business. While the income method uses anticipated revenues as a value basis, the asset method focuses on the company's capital, real estate and intellectual assets. Finally, the market method determines the worth of your garden ornaments business based on the sales of similar businesses in your geographic area. A good appraiser will often use multiple valuation methods to arrive at a reasonable estimate. Sellers should take note of the fact that all three valuation methods reward businesses that takes steps to increase assets and income.
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